Money owed to Lakehouse creditors leaps to £27m

Grant Prior 6 days ago
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Administrators at Lakehouse Contracts have confirmed creditors were owed more than £27m when the company went down in March.

An update from administrator CMB Partners shows the trade debt has trebled from the original £9m estimate.

CMB said 275 firms have now put in claims following the collapse of Lakehouse.

The company is now moving towards liquidation where Begbies Traynor will be joint liquidator.

Lakehouse crashed following a turbulent seven months after it was sold for £500,000 in August 2018 to a company called Mapps Group Limited.

The ex-owners are rebranded company Sureserve who have set aside £5.4m in their latest results to cover possible claims on contracts carried-out by their divested business.

CMB has submitted a report to the government on the conduct of Lakehouse directors while investigations are still ongoing into the sale of subsidiary Fosters Property Maintenance which was sold for £1 despite having a balance sheet value of £3.6m.

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